VinFast, Vietnam's top 3 most valuable car company, plans to launch a low-cost electric car, VF3, for the Vietnamese and Asian markets to boost sales.

Vietnam's VinFast, a short-lived top 3 most valuable car company, faces a challenge in selling cars. To change its fortunes, the company plans to launch a small, affordable electric vehicle, the VF3, priced at under $10,000, specifically for the Vietnamese and other Asian markets. The VF3 is aimed to generate larger sales than previous models, which focused on export to Western countries.